Comment on ''News Texas just turned into the UK: GOP House passes dystopian bill criminalizing memes…'' by rick

Parent Post: "News Texas just turned into the UK: GOP House passes dystopian bill criminalizing memes…"

rick · 6/30/2025, 8:37:09 PM · permalink

**"Texas Committee Passes Bill to Create 100% Backed Gold and Silver Transactional Currency".**    Excerpt.

By: Mike Maharrey|Published on: Apr 18, 2025|Categories: Federal Reserve, State Bills|

AUSTIN, Texas (April 18, 2025) – A Texas House Committee passed a bill that would establish a 100 percent gold and silver-backed transactional currency recognized as legal tender in the state.

Under House Bill 1049 (HB1056) sponsored by Rep. Mark Dorazio and more than 80 additional joint and coauthors, the Texas Comptroller would issue gold and silver specie (coins) through the Texas Bullion Depository and also establish gold and silver transactional currency defined as “the representation of gold and silver specie and bullion held in the pooled depository account.”

On April 16, the House State Affairs Committee passed HB1056 by a 10-5 vote.

The Depository would be required to hold enough gold and silver to back 100 percent of the issued currency.

Holders of gold and silver specie and currency would be able to use them as “legal tender in payment of debt” in the state of Texas. The gold and silver-backed currency would be electronically transferable to another person.

Gold and silver-backed currency would be redeemable in specie or at the spot price of gold in U.S. dollars minus applicable fees.

In practice, the passage of HB1056 would allow any person to conduct business transactions using gold or silver.  
  
https://blog.tenthamendmentcenter.com/2025/04/texas-committee-passes-bill-to-create-100-backed-gold-and-silver-transactional-currency/

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